Diana Shipping Finds Work for Two Bulkers

Athens-based dry bulk specialist Diana Shipping has, through separate wholly-owned subsidiaries, entered into time charter contracts for two of its bulkers.

The first contract is with Cargill International S.A., Geneva, for one of Diana’s Capesize dry bulk vessels, the 179,426 dwt m/v Santa Barbara.

The gross charter rate for the 2015-built bulker is USD 12,000 per day, minus a 4.75% commission paid to third parties, for a period of about twelve months to maximum fifteen months. The charter is expected to commence on January 24, 2017.

The second contract is with Uniper Global Commodities SE, Düsseldorf, again for a Capesize dry bulk vessel, the 2005-built m/v Salt Lake City. The gross charter rate for the 171,810 dwt ship is USD 9,000 per day, minus a 5% commission paid to third parties, for a period of minimum twelve months to maximum sixteen months. The charter is expected to commence on January 20, 2017.

The employments of Santa Barbara and Salt Lake City are anticipated to generate approximately USD 7.38 million of gross revenue for the minimum scheduled period of the time charters, Diana said.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels with the combined carrying capacity of approximately 5.7 million dwt and a weighted average age of 7.64 years.

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